GLP, a Singapore-based logistics real estate fund manager, has racked up RMB 5.4 billion ($755 million) in assets under management for its seventh China logistics income fund in less than three weeks after closing its precursor fund. GLP China Income Fund VII is seeded with 13 stabilised assets in China’s logistics hub across Shanghai, Qingdao,… Continue reading SG-based GLP closes $755m for seventh China logistics income fund
Author: Deal Street Asia Online News
Chinese nickel firm Lygend to raise $470m in Hong Kong IPO
Chinese nickel producer and trader Lygend Resources has priced shares at HK$15.80 apiece to raise $470m in its Hong Kong initial public offering (IPO), according to two people with direct knowledge of the matter. The Ningbo-based firm sold 232.54 million shares in the IPO, the fourth largest in Hong Kong so far in 2022. The… Continue reading Chinese nickel firm Lygend to raise $470m in Hong Kong IPO
Indian SaaS firm Celebal scores $32m funding from Norwest Venture PartnersThe startup is planning to expand to new territories across Europe, the Midd…
Celebal Technologies, an Indian software services startup, has announced raising a $32-million minority growth investment from US-based Norwest Venture Partners, per an announcement. The proceeds of the investment will be used to strengthen its foothold in existing markets across North America, India, and the Asia-Pacific as well as fuel its expansion into new territories across Europe,… Continue reading Indian SaaS firm Celebal scores $32m funding from Norwest Venture PartnersThe startup is planning to expand to new territories across Europe, the Midd…
SE Asia’s layoff purge to continue into 2023 as profitability comes to the fore
News of tech layoffs just keeps on coming, as startups — particularly the growth-stage ones — try to pull through the so-called ‘funding winter’. In Southeast Asia, including in the region’s largest economy Indonesia, at least 10,000 employees have been given the pink slips this year in sectors ranging from e-commerce, edtech and fintech to… Continue reading SE Asia’s layoff purge to continue into 2023 as profitability comes to the fore
Vietnam’s VinFast ships first batch of electric vehicles to US
Vietnam’s electric vehicle maker VinFast said on Friday it had shipped its first batch of 999 cars to the United States, capping a five-year bid to develop an auto production hub in the Southeast Asian country for markets in North America and Europe. The first cars are expected to be handed over to customers by… Continue reading Vietnam’s VinFast ships first batch of electric vehicles to US
Dubai waste management firm Averda said to be weighing majority stake sale
Dubai-based Averda International, one of the largest waste management firms in the Middle-East and North Africa, is planning to sell a stake in the business, sources familiar with the matter said. The company is working with Moelis & Co to arrange the transaction, which is expected to be a majority stake in the business, said… Continue reading Dubai waste management firm Averda said to be weighing majority stake sale
UAE’s IHC plans IPOs of its health and IT business divisionsIHC is targeting a tech unit IPO in the third quarter, with $1b in assets.
International Holding Company plans to sell 20% of its technology unit in an initial public offering next year, its CEO told Reuters, adding that the UAE’s IHC is aiming for a first-quarter IPO of Pure Health to raise more than $1 billion. IHC, which rose from relative obscurity to become the United Arab Emirates’ largest publicly traded… Continue reading UAE’s IHC plans IPOs of its health and IT business divisionsIHC is targeting a tech unit IPO in the third quarter, with $1b in assets.
German investor DEG commits $30m to Asia Partners’ second buyout fundAsia Partners’ debut fund had raised $384m in 2021.
DEG, the investment arm of German state-owned development bank KfW, has committed to invest $30 million in the latest private equity fund of Singapore-headquartered Asia Partners, according to a disclosure. Asia Partners, launched by former Sea Ltd president Nick Nash and Naspers B2C e-commerce division’s former CEO Oliver Rippel, has filed in April to raise… Continue reading German investor DEG commits $30m to Asia Partners’ second buyout fundAsia Partners’ debut fund had raised $384m in 2021.
SEA Digest: ThinkZone Ventures, TNB Aura launch accelerator programme; SOSV backs 5 startups in latest cohortGMA W22 will take place from November 202…
ThinkZone Ventures has launched the Global Minds Accelerator programme in partnership with TNB Aura Vietnam Scout, while SOSV’s new startup programme has unveiled five startups in the latest cohort. New programme to invest in 5-7 startups Vietnamese venture capital firm ThinkZone Ventures has launched the Global Minds Accelerator programme in partnership with TNB Aura Vietnam… Continue reading SEA Digest: ThinkZone Ventures, TNB Aura launch accelerator programme; SOSV backs 5 startups in latest cohortGMA W22 will take place from November 202…
India: Ultraviolette Automotive raises funding from Qualcomm, Lingotto
TVS Motor-backed electric bike maker Ultraviolette Automotive has raised funding from Qualcomm Ventures and Lingotto, the largest shareholder in Ferrari, as it looks to expand its operations and ramp up technology. This marks a part of the Series D round for the company. While the exact amount that Ultraviolette Automotive has raised in the latest… Continue reading India: Ultraviolette Automotive raises funding from Qualcomm, Lingotto